Networked Insights Acquired
Networked Insights has been acquired by American Family Insurance (AFI), one of the startup’s customers and an investor in its Series C round. According to a joint statement, Networked Insights will operate as a stand-alone subsidiary of AFI, and all 74 of its employees will remain in their current positions. Networked Insights was founded in 2006 and has raised a total of $77.2 million. Terms of the deal were not announced. [Press release]
Chicago tech sees a flurry of fundings
Three Chicago startups raised $32.6 million in just two days this week. Label Insight, which uses data science and machine learning to more accurately categorize consumer packaged goods, led the way with a $21 million Series C, announced on Tuesday. CEO Paul Schaut said the funds will be used for hiring, accelerating growth and increasing the capabilities of Label Insight’s platform. [Built In Chicago]
Smart oven startup Tovala got the funding party started when it announced a $9.2 million Series A on Monday. The startup will use the round to increase its marketing efforts, open a West Coast distribution facility, and to grow its technology, culinary and operations teams. [Built In Chicago]
Legal technology startup Heretik also announced funding on Tuesday, a $2.4 million seed round. The round was led by Corazon Capital and also saw participation from Chicago Ventures and Relativity, the platform on which Heretik’s contract review software is built. [Built In Chicago]
Guaranteed Rate announces strategic investment
According to Crain’s, Boston-based private equity firm Thomas H. Lee Partners has purchased a “meaningful minority stake” in Guaranteed Rate believed to be worth $100 million. With the cash infusion, Guaranteed Rate will buy back shares owned by its earliest private investors, invest in its platform and hire more employees. [Crain’s]
Monument lands on store shelves
Monument, the photo-storage device from Monument Labs, is now on store shelves at BestBuy. In addition to BestBuy, Monument is also available on Amazon and Monument Labs’ online store. [Press release]
HERE Technologies welcomes new exec
HERE Technologies has named Sandy Hogan SVP and general manager of North America and Latin America. Prior to joining HERE, Hogan was global vice president of Cisco’s Digital Transformation Group. [Press release]
